Semtech Co. (NASDAQ:SMTC) Stock Position Increased by Walleye Capital LLC

Walleye Capital LLC grew its position in Semtech Co. (NASDAQ:SMTCGet Rating) by 17.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,080 shares of the semiconductor company’s stock after purchasing an additional 1,799 shares during the period. Walleye Capital LLC’s holdings in Semtech were worth $838,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Martingale Asset Management L P increased its position in Semtech by 28.4% in the 1st quarter. Martingale Asset Management L P now owns 11,301 shares of the semiconductor company’s stock valued at $784,000 after acquiring an additional 2,500 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Semtech during the first quarter valued at about $528,000. Capital Research Global Investors lifted its holdings in Semtech by 4.6% in the fourth quarter. Capital Research Global Investors now owns 887,100 shares of the semiconductor company’s stock worth $78,890,000 after purchasing an additional 39,000 shares during the period. GSA Capital Partners LLP bought a new position in Semtech in the 1st quarter valued at about $2,261,000. Finally, Mutual of America Capital Management LLC increased its stake in Semtech by 2.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 58,761 shares of the semiconductor company’s stock valued at $4,074,000 after buying an additional 1,160 shares during the period. Institutional investors and hedge funds own 97.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Semtech from $90.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. Cowen downgraded Semtech from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $65.00 to $43.00 in a research note on Thursday, September 1st. Susquehanna Bancshares decreased their target price on Semtech to $56.00 in a research note on Monday, August 29th. B. Riley dropped their price target on shares of Semtech from $63.00 to $53.00 in a research report on Thursday, September 1st. Finally, Benchmark reduced their price objective on shares of Semtech to $65.00 in a research report on Tuesday, September 6th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.00.

Semtech Stock Performance

Shares of SMTC stock opened at $31.72 on Tuesday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 0.92 and a beta of 1.59. Semtech Co. has a 1-year low of $29.52 and a 1-year high of $94.92. The company has a current ratio of 4.12, a quick ratio of 3.35 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $48.95 and its 200-day simple moving average is $56.94.

Semtech (NASDAQ:SMTCGet Rating) last posted its quarterly earnings results on Wednesday, August 31st. The semiconductor company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $209.25 million during the quarter, compared to analysts’ expectations of $208.29 million. Semtech had a net margin of 19.94% and a return on equity of 21.18%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. On average, sell-side analysts predict that Semtech Co. will post 2.29 earnings per share for the current fiscal year.

Semtech Company Profile

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Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Institutional Ownership by Quarter for Semtech (NASDAQ:SMTC)

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